Palmer Square Capital BDC (PSBD) Expected to Announce Quarterly Earnings on Thursday

Palmer Square Capital BDC (NYSE:PSBD) will likely be posting its results before the market opens on Thursday, February 26th. Analysts expect Palmer Square Capital BDC to post earnings of $0.42 per share and revenue of $30.1140 million for the quarter.

Palmer Square Capital BDC Price Performance

PSBD stock opened at $10.86 on Tuesday. Palmer Square Capital BDC has a 1 year low of $10.77 and a 1 year high of $15.64. The firm has a market capitalization of $341.87 million, a PE ratio of 25.26 and a beta of 0.68. The business has a 50 day simple moving average of $11.80 and a 200-day simple moving average of $12.47.

Palmer Square Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, December 29th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 13.3%. The ex-dividend date was Monday, December 29th. Palmer Square Capital BDC’s dividend payout ratio is presently 334.88%.

Institutional Investors Weigh In On Palmer Square Capital BDC

A number of institutional investors have recently made changes to their positions in PSBD. Rivernorth Capital Management LLC acquired a new position in shares of Palmer Square Capital BDC in the 4th quarter worth approximately $7,077,000. Two Sigma Investments LP raised its position in Palmer Square Capital BDC by 142.9% in the third quarter. Two Sigma Investments LP now owns 131,545 shares of the company’s stock valued at $1,614,000 after purchasing an additional 77,393 shares during the period. Bank of America Corp DE raised its position in Palmer Square Capital BDC by 22.1% in the third quarter. Bank of America Corp DE now owns 367,035 shares of the company’s stock valued at $4,504,000 after purchasing an additional 66,460 shares during the period. Renaissance Technologies LLC lifted its stake in Palmer Square Capital BDC by 18.8% during the fourth quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $2,231,000 after purchasing an additional 28,900 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Palmer Square Capital BDC during the fourth quarter worth $351,000. 6.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group reduced their price target on Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Royal Bank Of Canada cut shares of Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, November 26th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Palmer Square Capital BDC presently has a consensus rating of “Hold” and an average target price of $13.00.

Palmer Square Capital BDC Company Profile

Palmer Square Capital BDC Inc (NYSE: PSBD) is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.

PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.